Can You Buy an Umbrella Insurance Without Another Policy to Attach it To?

Umbrella insurance is something that many people can benefit from but that they may also not know much about. Umbrella policies can help add coverage to policies you already have and can help to improve your overall insurance coverage. For those that live in Ponte Vedra Beach, FL or the North East Florida area, the agents with Palm Valley Insurance, Inc. can help you determine what sort of insurance policy you need and what is going to work best for you.

Overall, umbrella insurance is quite useful but may not be helpful if you do not already have some insurance coverage. While you can take out an umbrella policy even if you do not have insurance from another company, most companies, even those selling umbrella policies, are going to suggest you take out standard coverage first then adjust it to be above the minimum limits before you can take out an umbrella policy.

With an umbrella policy, you are going to want to have some other form of insurance in place to make sure that you are getting the most coverage possible. It depends on the company you are buying from whether or not they are going to let you take out an umbrella policy without having another plan in place. The real issue comes when you try to cash out on an umbrella only policy. It helps to talk with an agent about your coverage if you are considering purchasing an umbrella policy. For those that live in the Ponte Vedra Beach, FL and the North East Florida area, the agents with Palm Valley Insurance, Inc. can help you determine what policy is going to work for you and can help by answering any questions you may have about umbrella insurance.

What’s the difference between term and whole life insurance?

Insurance can be confusing, and one of the most confusing topics is life insurance. If you live in Ponte Vedra Beach, FL, the agents at Palm Valley Insurance, Inc. are happy to answer any questions and help make sure you get the coverage you need. 

The first thing you have to decide when choosing a life insurance policy is if you want a term life or a whole life insurance policy. The sooner you select, the sooner you can lock in a low rate.

The benefits of term life insurance 

A term life insurance policy will be paid out upon the death of the policyholder. This is a favorite type of coverage because it helps to deal with the expenses that come with death, such as funeral expenses and the sudden loss of income. 

Term life insurance is less expensive and easier to use. There is a set term, like five years or 20, and when the term is up, there must be a new policy. The cost is greater after the age of 50.

The benefits of whole life insurance 

With whole life insurance, you can be covered for life. Instead of just paying out on death, a whole life policy has a cash accumulation.  What you pay in adds up, and you can borrow against your policy or just take money out.

While the initial payments are higher, a whole life insurance policy can save you money in the long run. You might need a health exam to get started. 

Which policy is best for you in Ponte Vedra Beach, FL depends on factors like your age, your children’s ages, and your health. Call Palm Valley Insurance, Inc. to discuss the best options for yourself and your family. 

Who is Covered Under Your Auto Insurance Policy?

Whether you own a new or older vehicle, auto insurance is a must to protect you and others on the road. At Palm Valley Insurance, Inc., we can help you select an insurance policy that suits your budget and driving needs. If you plan to let others borrow your vehicle, you should make sure your policy offers coverage for your guest drivers. The following guidelines can help you understand who is covered under your auto insurance policy.

Members of the Same Household: In general, anyone that lives with you is protected by your auto insurance policy. This could be your spouse, son, daughter, mom, etc. If they have permission to use your vehicle and have a valid driver’s license, they will be covered under your policy. Many states require that members of the same household be listed on the same auto insurance policy to receive coverage.

Visiting Relatives: If a relative comes to visit you in Ponte Vedra Beach, FL and you permit them to drive your car, he or she will also be covered under your policy. Just make sure your relative has a valid driver’s license before loaning out your car. If your relative decides to stay for several months, you may need to add him or her to your policy to get coverage.

Friends: You may on occasion permit a close friend to drive your vehicle to fetch something from the store or pick your children up from school. If your friends have permission, they, too, will be protected under your insurance. Friends and visiting relatives, however, may have reduced coverage due to not being listed on your policy. You can review your policy to see what kind of protection these drivers will receive.

For quality auto insurance to meet all your Northeast Florida driving needs, contact Palm Valley Insurance, Inc. in Ponte Vedra Beach, FL.

How much home insurance coverage do I need to have?

Your home is a high dollar asset that needs to be protected adequately by insurance. When you are looking to insure your Ponte Vedra Beach, FL or North East Florida area home, there are many choices that you will need to make regarding your home insurance. One of the biggest decisions is regarding how much coverage you should have. There are several factors to consider when you are trying to determine your home insurance needs.

Purchase Price and Loan Amount

When you are trying to figure out how much insurance you need, the first factor to consider is how much you paid for the home and how much debt you owe. If you have a mortgage on the property, the lender will require that you have an insurance policy that will easily pay off the outstanding loan balance. However, you will also want to make sure that you have coverage to reimburse your equity in the home if there is a total loss.

Personal Property

You will also want to make sure that you have enough coverage for your personal property. Between clothing, furniture, appliances, and other personal items, you could have tens of thousands of dollars in assets sitting under your roof. You will want to make sure you have coverage for that. More valuable assets may require an additional policy rider. 

If you are looking for a new home insurance policy in Ponte Vedra Beach, FL or the North East Florida area, the team at Palm Valley Insurance, Inc. could help you get into a policy that provides you with the right level of coverage. The Palm Valley Insurance, Inc. team will be able to properly examine your current situation to make sure that you have the coverage you need to have the adequate protection you need to protect your home. 

Benefits of Renters Insurance

Proper insurance is vital for property owners who want to protect their assets against disasters. On the other hand, tenants need to purchase renter’s insurance from Palm Valley Insurance, Inc. to protect their possessions in the event of a disaster or an accident. It is crucial for every tenant to read his or her renter’s insurance policy thoroughly to know the exact events and acts that are covered and up to what amount. Here are some of the benefits of purchasing renter’s insurance.

Affordable

Some tenants in Ponte Vedra Beach, FL are hesitant about renter’s insurance because they imagine it is too costly and perhaps not a priority. It’s very affordable compared to the cost of replacing some of your pricey personal items in your rented home. The cost of renter’s insurance depends on other factors like the amount of coverage you are looking for.

Liability coverage

The insurance policy will protect you in case of any accidents that may occur in your unit. For example, if a guest slips and falls in your unit, the renter’s insurance policy will protect you against liability. The amount of protection you get from the policy will depend on the terms of your policy.

Fire or wind coverage

The renter’s insurance policy will compensate you if your possessions are damaged by disasters such as fires or wind damage. You can receive a replacement cost or actual cash depending on the type of renter’s insurance coverage you purchase. Replacement cost coverages are often more expensive.

Theft coverage

You can rest assured that you will be compensated for losses resulting from a burglary in your Ponte Vedra Beach, FL home. The amount and type of coverage that you get also depends on the individual policy you select. However, it is important to remember that a renter’s insurance policy doesn’t cover everything. Therefore, you may consider buying separate insurance for your valuable items such as fine art pieces or comic books.

If you live in a rented home, consider buying enough renter’s insurance to protect your possessions. Contact one of our local agents at Palm Valley Insurance, Inc. to guide you through the process of choosing a renter’s insurance policy that suits your lifestyle.

 

Getting the Right Motorcycle Insurance in Florida

When you buy a motorcycle in Ponte Vedra Beach, FL, you may have heard that you don’t need insurance in order to register it. This is not true. Your agents at Palm Valley Insurance, Inc. want to remind you that you are required to carry liability insurance, but you may not have to pay for additional personal injury protection. However, that may not be a good idea. Let’s find out why.

Florida Requires Only $10,000 Personal Injury Protection

When you register your motorcycle, you will have to provide proof that you have medical insurance or a motorcycle insurance policy that will cover your injuries up to $10,000 per accident. This may make you think that you can get away with a less expensive insurance policy, but if your health insurance covers only the bare minimum, you could end up paying even more in the long run.

One Accident Can Wipe Out Your Savings

If you wipe out on the road and need surgery to take care of your injuries, it’s a good bet that your medical bills will run well over $10,000. It may only be a broken leg, but if the doctors need to place screws to set the bone, you will watch your ER bill go through the roof. How are you going to pay for the medical care? Your rent?

Increase Your PIP Coverage for Peace of Mind

Even if you carry health insurance, it is a good idea to talk to your agent at Palm Valley Insurance, Inc. about increasing your PIP coverage to be able to cover a visit to the hospital. That way you can continue to enjoy the sunshine in Ponte Vedra Beach, FL even if you are out of commision with an injury, instead of worrying how you will cover the bills. 

Umbrella insurance coverage options in Ponte Vedra Beach FL

Our increasingly litigious society demands that we have sufficient coverage for our assets and emergency situations. The standard home, boat, or auto insurance coverages are never adequate particularly in grievous circumstances, and that’s why at Palm Valley Insurance, Inc. in Ponte Vedra Beach, FL, we always recommend that residents purchase umbrella insurance. 

Extra liability coverage or umbrella insurance shields you from lawsuits and other comprehensive coverage options that may not be covered in the standard traditional insurance coverage. Umbrella insurance includes the following:

Bodily injury

Bodily injury liability covers the medical expenses of other people when you are at fault. For example, injuries sustained by another person through an accident that you caused or when you accidentally hit a pedestrian. 

Property damage

Property liability pays the cost on losses as a result of:

  • Car and property damaged due to accidents.
  • Damage made by kids or pets such as breaking a neighbor’s glass window.
  • Damage made from your children on school property.

Rental/landlord liability

This coverage is primarily useful to landlords who may get sued by their tenants or visitors in the building due to various reasons surrounding their property like falls caused by cracked patios.

Libel and slander

Libel or slander liability coverage protects you from illegal lawsuits by another person over something that you did, said, or wrote.

Umbrella insurance in itself is not self-sufficient and can only be used once your home or auto insurance coverage is inadequate to cover all costs. Break the chains of home and auto insurance constraints using umbrella insurance today. Visit us at Palm Valley Insurance, Inc. in Ponte Vedra Beach, FL for all your insurance obligations or new policy discussions. 

 

Does Smoking Affect My Life Insurance?

As a resident of Ponte Vedra Beach, FL, you have access to many life insurance policies including; whole life, universal life, variable universal, variable life, level premium term, and annual renewable term insurance. At Palm Valley Insurance, Inc., we offer quotes for life insurance coverage depending on individual needs. However, smoking can have a big effect on your life insurance rates. Smokers can be charged up to four times more than non-smokers for similar life insurance coverage.

How much smoking would make an insurance company consider you a smoker?

According to insurance companies, you are a smoker if you have smoked in the past year. It doesn’t matter whether you are a chain smoker or someone who only smokes on special occasions. Unfortunately, insurance companies treat all smokers the same way.

Lying about your smoking or failing to disclose it can be dangerous. It may be considered insurance fraud and an insurance company can deny your beneficiary’s payment after you die. Remember that most insurance companies will not just take your word. They do their own investigations. Even if they do not find any evidence of you being a smoker right away, it may come up in future.

If you quit smoking, your life insurance premiums may go down after some time. The length of time it takes depends on your insurance company.

How Should A Smoker Find The Right Life Insurance Company?

If you are a smoker in Ponte Vedra Beach, FL, contact Palm Valley Insurance, Inc. We will help you find the life insurance company that offers enough coverage at the best prices for you. We strive to offer you policies that meet and surpass your expectations. You may visit our office or contact us at 813-702-5158 to discuss a new quote.

Why Auto Insurance is Mandatory

No matter where you live in the United States, you are required to have a sufficient amount of auto insurance to stay on the road. Driving in Ponte Vedra Beach, FL is no exception, and it is not up to the local government to change such rules. If you would like a reliable auto insurance policy to stay compliant with the law, please consult with Palm Valley Insurance, Inc. to see if they have what you need.

The discussion for obligatory insurance for all drivers on public roads has pretty much been wrapped up for nearly 100 years. Since it had always been apparent that cars will crash into each other eventually. Some states had already implemented mandatory insurance in the 1920’s. Fast forward to modern times, nearly every part of the country has mandated a minimum amount of liability insurance.

Protecting The Property of Other People

Car insurance isn’t really about protecting ourselves as much as other people on the road. If you smash into someone’s car, somebody must be able to cover the damages or injuries. Since most people cannot cover such costs on the spot, insurance exists to pay for such emergencies so the victim receives just compensation.

Protecting The Driver

Including collision insurance with your policy, you are protected against theft, vandalism, and other forms of costly damages. Imagine if you were a rebel without insurance. Even if you never get caught, you won’t save any money if such disasters happen to you and you must pay for them out of your pocket.

Driving without insurance is irresponsible, and it is now common sense for the majority of people. If you are shopping around for auto insurance in the Ponte Vedra Beach, FL area, consulting with Palm Valley Insurance, Inc. may save you a bundle on your new policy.

Can Outdoor Security Lights Help your Insurance?

In Ponte Vedra Beach, FL, the agents of Palm Valley Insurance, Inc. serve many of the surrounding communities by offering sound advice on how to keep their insurance costs stable. Homeowners and renters alike can take several steps to keep their insurance premiums low while maintaining an adequate amount of coverage. Security lighting is one of the easiest and most effective ways to protect your home from unwanted intruders.

Landscape and Security Lighting

Strategically placed landscape and security lights can illuminate many of the most commonly used areas where intruders try to gain access to your home. Placing lights near doors and pathways will make it almost impossible for someone to make it up to the door without being seen. Security lights are often set up with timers that turn them on at dusk and off at dawn, but they can also be set up so that the homeowner turns them on whenever they want.

Minimizing Your Risk

Landscaped areas are not meant just to beautify your home. Properly designed landscaped areas that are placed near windows or patio entrances can make it extremely hard for a predator to gain access to your home. Motion activated lights that are strategically placed within the landscaped area offer an additional layer of defense.

In Ponte Vedra Beach, FL, homeowners can find out many ways to reduce their insurance costs simply by asking a few questions. Call the agents of Palm Valley Insurance, Inc. today to find out how they can help you protect your home and lower your insurance costs. Whether you own or rent your property, it’s up to you to do everything you can to keep your home beautiful and safe.